History

The World Boxing Council was initially established by 11 countries: Argentina, Brazil, Chile, France, Mexico, Panama, Peru, Puerto Rico, the United Kingdom, the United States, and Venezuela. They met in Mexico City on February 14, 1963, upon the invitation of the President of Mexico, Adolfo López Mateos, to form an international boxing organization that would achieve the unity of all commissions of the world to control the expansion of boxing.

The WBC was bankrolled mainly by George Parnassus, a California promoter. Parnassus, who loaded his shows with Mexican and Mexican-American fighters of the lighter weight divisions, was tired of seeing his star attractions ignored by the pro-U.S. rating systems.

The Near Demise of the WBC

In early 1998, Roy Jones Jr. announced that he was relinquishing his WBC light heavyweight title to fight as a heavyweight. In response, the organization ordered a bout between German contender Graciano Rocchigiani and former two-division champion Michael Nunn to fill the vacancy, sanctioning it as a world championship match.

On March 21, 1998, Rocchigiani won the fight and a WBC belt: in the subsequent WBC rankings, he was listed as "Light Heavyweight World Champion." Jones, however, had a change of heart and asked if the WBC would reinstate him as the champion. In a move that violated nearly a dozen of its own regulations, the WBC granted the reinstatement. Rocchigiani received a letter from the WBC advising that the publishing of his name as champion was a typographical error, and he had never really been the official titleholder.

Rocchigiani immediately filed a lawsuit against the WBC in a U.S. federal court, claiming that the organization's actions both were contrary to their own rules and injurious to his earning potential (due to diminished professional stature). On May 7, 2003, the judge ruled in Rocchigiani's favor, awarding him $30 million (U.S.) in damages and reinstating him as a former WBC champion (Rocchigiani had lost a bout since his WBC title match).

The following day, the WBC sought protection by filing for Chapter 11 bankruptcy (i.e., corporate debt restructuring) in Puerto Rico. The organization then spent the next 13 months attempting to negotiate a six-figure settlement with Rocchigiani, but Rocchigiani did not at first accept.

On June 11, 2004, the WBC announced it would enter Chapter 7 bankruptcy liquidation (i.e., business closing and total asset sell-off) proceedings, effectively ending its existence. This action prompted some in the boxing community to plead with Rocchigiani to settle the dispute, which he did in July 2004. Both sides agreed not to reveal terms of the settlement.

Diamond Title

Created in 2009, the Diamond championship belt is an honorary championship destined to reward the winner of a historic fight between two high-profile and elite boxers. It was first awarded in November 2009 to Manny Pacquiao, who won his sixth world title (in five different divisions) via a twelfth-round technical knockout over Miguel Cotto in Las Vegas. The title can be defended, but it is not a mandatory requirement. The title can also be vacated due to a fighter’s long-term absence or retirement from boxing.

Silver Title

Created in 2010, the Silver championship belt was established as an alternative to Interim championship belts. However, the holder of the Silver belt does not get elevated to full recognition as World champion when that title becomes vacant.

International Title

Created in 1986, the WBC International title was established in order to afford boxers that wish to pursue a career within the World Boxing Council to gain recognition and secure and beneficial world ranking with the WBC. The holder of the International belt is guaranteed a spot among the WBC's top 40 ranking. The International title has its own website that can be accessed here [1]

Continental Americas Title

Created in 1978, the WBC Continental Americas title is a minor title open to boxers fighting out of North American, Central American and South American countries. The Continental Americas champion is guaranteed a spot among the WBC's top 40 ranking.

Francophone Title

Created in 2014, the WBC Francophone title is a minor title open to boxers fighting out of more than 70 predominantly francophone countries, states or territories. The Francophone champion is guaranteed a spot among the WBC's top 40 ranking.